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Why don't you partner with someone and purchase a rental together? Besides your rent payment, what else could you offer a partner? Are you handy with home repairs? Would you screen tenants and collect rents?
That's an intriguing concept but the type of person who purchases a rental property is pretty much in it for the money and I cannot successfully compete in that market.
By the time that rent payment caught up, if the house is sufficiently expensive, the renter's investment portfolio, if he/she invested the excess cash flow aggressively, might be worth so much and be throwing off so much income that the owner will never, ever catch up.
In places like San Francisco, this appears very likely the case right now.
There is simply no substitute for running the numbers.
Problem is, the low-income demographics of renters are inadequate to support excess cash, let alone investing excess cash.
Renters above median income typically are investing intensely in order to exit the rental market, but renters are heavily concentrated in the two bottom income quartiles.
How many BILLIONS have landlords saved through refinancing? And conservatives should stop taxing rental properties up the wazoo.
Really? In our state, we had a Republican governor and he didn't raise taxes but a Democrat convinced people we need to raise taxes and got voted in and our republican legislature is still fighting them.
If our Democrat governor gets his way, rents are going up.
Problem is, the low-income demographics of renters are inadequate to support excess cash, let alone investing excess cash.
Renters above median income typically are investing intensely in order to exit the rental market, but renters are heavily concentrated in the two bottom income quartiles.
The fact that they typically buy property when they can has no effect on the fact that that it may not be financially the best decision for them (depending on the market).
How many BILLIONS have landlords saved through refinancing? And conservatives should stop taxing rental properties up the wazoo.
I was able to save via refinancing.... it also let me hold the line on rent increases... must be doing something right with tenants going back as far as the 1980's...
If I thought being a long distance LL were so easy and also profitable, I would have already bought a cheap house somewhere in a distant land while stuck living in a HCOL area for grad school.
I have always done real well and what real estate investment has given me is much more than any job I have ever had.
I have always done real well and what real estate investment has given me is much more than any job I have ever had.
And lots of others have failed spectacularly. Perhaps you also are not as time-constrained as I am. I don't have many extra hours to deal with this stuff.
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